Portfolio Update

Standard Life Euro Pri Eqty Tst PLC
03 January 2008


Standard Life European Private Equity Trust PLC


Disclosure of ten largest holdings at 31 December 2007 as required by the
Listing Rules, Chapter 21 paragraph 20 l.


As at 31 December 2007 the ten largest portfolio holdings of the Company by
value were as follows -


                                                            Valuation £'000       % Gross Assets

Alchemy Investment Plan                                              20,827                5.38%
Charterhouse VIII                                                    19,780                5.11%
Candover 2005 Fund                                                   17,616                4.55%
Fourth Cinven Fund                                                   16,831                4.35%
Third Cinven Fund                                                    15,762                4.07%
Candover 2001 Fund                                                   15,660                4.05%
Apax Europe VI                                                       15,358                3.97%
Barclays Private Equity European Fund II                             14,668                3.79%
CVC Europe IV                                                        14,003                3.62%
Industri Kapital 2004                                                12,972                3.35%
                                                                 __________           __________
Total of ten largest portfolio holdings                             163,477               42.24%
                                                                 __________           __________
Gross assets                                                        386,877


As an investor in private equity funds, the Company carries out a valuation of
its unquoted fund investments on a quarterly basis. The above table reflects the
last valuation carried out as of 30 September 2007.


                      This information is provided by RNS
            The company news service from the London Stock Exchange